Qnity Electronics (Q) FY2025 results: revenue $4.8 billion, up 9.7% on the year

Qnity Electronics supplies the materials that go into making semiconductors and the electronics they sit in: the slurries, polishing pads, photoresists, plating chemistries, films and shielding parts that chip makers and circuit board makers consume inside their own factories. It describes over 50 years of experience in systems engineering and material science. Its products are consumable or unit-driven, and more than 90% of 2025 sales came from products either used in a customer's manufacturing process or incorporated into the final electronic device. It reports in two segments, Semiconductor Technologies and Interconnect Solutions.

How it came to be listed

On 22 May 2024 DuPont de Nemours announced a plan to separate Qnity from DuPont into an independent publicly traded company. DuPont completed the separation on 1 November 2025 by distributing one Qnity share for every two DuPont shares held at the close of business on the record date of 22 October 2025. Qnity common stock began trading on the New York Stock Exchange under the symbol Q on 3 November 2025.

Semiconductor Technologies

Materials used across multiple stages of making a chip. Advanced cleans and CMP slurries are specialty cleaning chemistries for liquid and dry film photoresist removal, post-CMP cleaning, selective etching and post-etch residue cleaning, under brands including PlasmaSolv, CuSolve, Acuplane and Novaplane. CMP pads are the consumable polishing pads used in chemical mechanical planarisation, sold under IC1000, Ikonic, Visionpad, Politex and Suba among others, with partnerships on processes below 7 nm and on planarisation materials for 3D-IC technologies. Lithographic materials are the photoresists and anti-reflective coatings that create the patterns on a device, offered for all lithography wavelengths including ultraviolet, deep ultraviolet and EUV, under brands including EPIC, EON, MICROPOSIT and MEGAPOSIT. Kalrez perfluoroelastomer parts are sealing components for semiconductor manufacturing, aerospace, chemical processing and energy, where heat and chemical exposure are high. Advanced display materials serve OLED screens, and the company says it launched the first mass-produced red phosphorescent OLED host.

Interconnect Solutions

Materials for connecting, packaging and protecting the finished parts. Advanced Circuit and Packaging covers metallisation, electroless and electrolytic plating chemistries, final finishing, packaging photoresists and dielectrics, optical materials, conductive adhesive and silver nanowire technologies, sold under Circuposit, Microfill, Nikal, Riston, Silveron, Solderon and Intervia among others. Named pieces of that work include copper pillar plating, which creates vertical electrical connections between chips and their interposers and substrates; copper redistribution layers, which route signals from a chip's bond pads out to a larger footprint; solder bump plating, including the micro-bumps used to connect the memory dies inside high bandwidth memory; and under bump metallization, the layer applied beneath solder bumps to improve adhesion. Laird Technologies supplies thermal and electromagnetic interference shielding, among them gap filler pads, liquid gap fillers, phase change materials, EMI absorbers and shields, under Tputty, Tflex and CoolZorb. Advanced Flex Technologies supplies polyimide films and flexible copper-clad laminate materials under Kapton, Oasis, Pyralux and Interra.

Who buys it

Semiconductor device manufacturers and foundries, equipment providers, circuit board manufacturers and other intermediaries in the electronics value chain, plus original equipment manufacturers who specify Qnity materials into their own manufacturing process, often through their fabricator network. The company says the average length of its relationship with its top 10 customers exceeds 30 years, and that nearly all of the world's top 20 largest semiconductor manufacturers are customers. In 2025 Samsung Electronics accounted for 11% of net sales and Taiwan Semiconductor Manufacturing Company for 8%, with the remaining top 10 customers adding 15%, so 34% in total. Contracts with certain top customers carry no long-term purchase commitments; the company works instead to non-binding short-term forecasts, and states that its business is not substantially dependent on any contract. Selling runs both directly and through a global network of distributors.

Where it is made

Approximately 40 manufacturing sites and facilities across all of its geographic regions, with major research facilities and manufacturing plants placed close to customers across Taiwan, South Korea, China, Europe and the United States. The workforce is more than 10,000 people. Some employees are affiliated with labour unions or represented by works councils.

From Qnity Electronics' annual report on Form 10-K for the year ended 31 December 2025. The filing

Written from the 10-K filed 26 February 2026: read the full 10-K.